Ensuring the accuracy of data, such as owner names, addresses, and Social Security numbers, is crucial. Errors in data can lead to compliance issues and difficulties in locating rightful owners. Successfully locating and contacting the rightful owners of unclaimed property can be difficult, especially if the contact information is outdated or incomplete. Unclaimed property laws and regulations vary significantly from state to state, making compliance a complex task1.
LAKEISHA L CHRISTIAN
Value reasoning
because the more accurate the information, the better chance you have of connecting to a client
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Current process
just trying as hard as I can to find the leads and the proper phone numbers or email
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Challenge: Ensuring the accuracy of owner names, addresses, and Social Security numbers is essential, as errors can lead to compliance issues and hinder the ability to locate rightful owners.
Challenge: Locating and contacting rightful owners is complicated by outdated or incomplete contact information, which can slow down the recovery process.
Challenge: Unclaimed property laws and regulations differ significantly across states, making it difficult to ensure compliance and navigate legal requirements effectively.
Challenge: Developing a robust system for data management and compliance may require significant investment in technology and resources, posing a financial barrier for startups.
Challenge: Gaining trust from potential clients is critical, as they may be hesitant to share sensitive information without established credibility in the market.
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